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MWG Chairman Nguyen Duc Tai said the market is currently “lucky” because global demand is slowing at the same time that supply is being affected, easing pressure from supply-demand imbalances.
Speaking at MWG’s 2026 annual general meeting held on the afternoon of April 18, 2026, Tai discussed developments in both the global and Vietnamese economies, emphasizing how geopolitical factors are influencing supply and demand.
He said the global economy is in a “very hard-to-predict” phase as conflicts persist and emerge beyond earlier forecasts. However, Tai believes the uncertainty is “not too pessimistic” and may not last long because it affects many countries involved.
From a market perspective, Tai said geopolitical factors are affecting the supply of goods to some extent, particularly through impacts on raw materials and supply chains. Despite this, he argued that the current situation is manageable because demand is also cooling.
“The luck is that although supply is a little bumpy, global demand is also slowing. If demand keeps rising while supply falls, there would be many problems,” Tai said. He added that the simultaneous decline in both supply and demand helps limit the risk of serious imbalance.
In this context, Tai said businesses should focus on maintaining operations and boosting sales. He also noted that, given the nature of the retail sector, MWG has prepared in advance through production planning and partner contracting.
For products such as air conditioners, Tai said production cycles are typically planned months ahead and large-volume contracts are signed beforehand, so the risk of shortages is not a major concern. “Only if we cannot sell, that is what we should fear, not shortage,” he added.
On Vietnam’s domestic economy, Tai expressed optimism about the government’s pace and determination in recent times. He said these factors provide a basis for positive growth in 2026, even as external challenges remain.
Overall, Tai said while the business environment remains volatile, the current factors do not create long-lasting risks, and enterprises should proactively adapt to carry out their business plans.
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